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Looking back at the really bad old days

The final figures for mortgage arrears and repossessions in 2011 were better than expected, given the poor performance of the economy and recent rises in unemployment. But we can expect the run-off of these arrears and repossessions to be protracted.

 

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Small lenders buckle under demand, with Accord pulling all deals again

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Has Britain really stopped saving?

By Steve Webb, Director of Policy and External Communications Our latest policy paper reveals what the fall in the savings ratio does (and doesn’t) mean In June 2017, the Office for National Statistics published its estimates for the ‘savings ratio’ for the first quarter of 2017. This is essentially a measure of the percentage of […]

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  • Dermot Brannigan 14th March 2012 at 4:52 pm

    I think there are also two other factors which point to the difference in repossessions between now and the early 90’s.
    Back then, more people threw the keys back to the lender, with no understanding of the implications. This wasn’t helped by double-digit interest rates which many considered unfair.
    Secondly, councils haven’t got the money to re-house people a lender no longer wants, so the courts are less likely to sanction an order. There is already enough case law against lenders applying for possession, that it is cheaper to keep the borrower where they are.